Carrington Wholesale Lending

Bulletin W13-146 – Co-Ops Now Available

November 25, 2013Bulletins

Topic included in Bulletin W13-146:

  • CMS announces the addition of Co-Ops to our product offering
  • Available for Conventional Conforming, High Balance and Jumbo, in the following locations:
    • New York State
    • New Jersey; Hudson, Essex, Union, Middlesex, Bergen, Passaic, Monmouth and Morris counties
  • Highlights of program
  • Program Codes are reflected in the pricing engine
  • Program is Non-Delegated and requires Investor Approval
    • Investor Approval required prior to lock
    • Investor mandatory PTD condition
  • Program currently available only of Operation Centers that are currently using Encompass; Enfield, Fishers and Jacksonville
  • Co-Op loans must be underwritten in the Enfield Operation Center
  • Training held for Sales and Operations the week of November 18, 2013
  • Available Monday, November 25, 2013

Download: Bulletin – W13-146 (PDF)

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